fraud

Geely-Backed EV Brand Zeekr Denies Fraud Accusations

On February 17, Geely’s electric automobile brand Zeekr denied recent accusations of sales fraud on social media. The Chinese company has already filed for a U.S. initial public offering.

Snow Lake Capital, After Helping Expose Luckin Coffee’s Fraud, Now Praises Its Rebirth

On November 7, Sean Ma, the founder of Snow Lake Capital, a hedge fund that reportedly produced a damning 2020 short report on Luckin Coffee, released another research report claiming that "the rebirth of Luckin Coffee is a miracle in Chinese business history!"

Matching Mini-game “Sheep A Sheep” Hits It off in China, Arouses Controversy

A new pass-through mini game named "Yang Le Ge Yang," translated as "Sheep A Sheep," has become a national online sensation on China's social media in recent days. However, it has aroused controversy over its profitability and game rules.

Kuaishou and Tencent’s QQ Required to Strengthen Fraud Monitoring

Cyberspace Administration of China now requires social platforms and short video platforms such as Tencent's QQ and Kuaishou to implement content management and continuously investigate and dispose of fraudulent information, group chats and accounts.

US Court Approves Luckin Coffee’s $460 Million Debt Restructuring

In the early morning of Friday, December 17th, Chinese coffee company Luckin Coffee's debt restructuring plan received recognition from a federal judge in Manhattan.

Tesla Sues Model S Owner for Infringing Reputation, Claiming 5.05 Million Yuan

A Chinese Tesla Model S owner who formerly won a fraud case against the EV firm posted on Weibo on Sunday, saying that he has been sued by Tesla for infringing the firm's reputation.

Stained by Fraud Scandal, Luckin Coffee Is Seeking a Path Out

The fraud scandal hasn’t knocked Luckin out of the ring: today, it remains China's second-largest coffee chain. How did Luckin survive the turmoil?

Le.com and Jia Yueting Are Fined 481 Million Yuan ($73 Million) for Financial Fraud

On Monday, Chinese streaming video service Le.com reported that the China Securities Regulatory Commission (CSRC) had fined the company 240 million yuan ($37 million) for a financial fraud running from 2007 to 2016.

Luckin Coffee with 43 Other Involved Companies Fined $9M After Investigation

The State Administration for Market Regulation announced on Tuesday morning that it has fined two Luckin entities and 43 third-party companies a combined 61 million yuan (around $9 million).

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